How Do Solar Panels Effect My Home Sale?
Posted by Daina Santaella on Wednesday, January 13, 2021 at 12:43 PM
By Daina Santaella / January 13, 2021
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I can't help but notice a few Tesla Installation trucks traveling through the neighborhood over the past few months.
I think solar power is a wonderfully, money and energy saving option for our homes. I've had many clients enjoy the benefits of solar power in recent years. There are, however, some possible set backs when selling a home with solar panels in Colorado.
Many homeowners choose to have solar panels installed, hoping it increases the value of their home, but this is not usually the case in most states like Colorado. It may increase the desirability for buyers looking for a solar powered home, but appraisers aren't as easily impressed.
The largest set back to selling a home with solar has to do with time. If I can leave you with any advice about selling a home with solar Panels, it's this: PLAN AHEAD.
- Don't wait until you have listed your home for sale to start gathering all of the lease/ownership documents.
- It is also very important to show proof of the energy/money savings over time, so start saving those records or statements and file them away.
- Make sure you have a good contact number for transfer of ownership or lease. This process can be drawn out and WILL delay your closing.
Interestingly, for homes located in states like California, New York, Hawaii, Pennsylvania and a handful of other states, installing solar panels in a home not only helps to reduce current monthly utility bills; it can potentially increase the home’s value by up to 4.1% more than comparable homes with no solar panels, according to research done by Zillow.
If you are thinking about selling or buying a home with solar panels and would like additional information, please contact us today to avoid any possible pit-falls.
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